Johnson Controls predicts 2010 profits

Automotive parts supplier Johnson Controls Inc. said it expects to be profitable in its 2010 fiscal year, largely because of deep cost-cutting and higher automotive production.

“We expect to deliver on profitable growth in 2010,” Johnson Controls CEO Stephen Roell said in a statement.

During the 2010 fiscal year, which ends in September next year, the company expects revenue will jump 9% to $31 billion. The company expects to report earnings per share of $1.35 to $1.45 next year, which it said is “significantly higher than 2009.”

Read Full Article from Detroit Free Press

- Posted: 2009-10-13 14:09:58

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